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20121010
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CNBC
Oct 2, 2012 2:00pm EDT
of just one all-american city. tell you where, coming up. >>> plus what does shelia bare think of the big lawsuit against jp morguen? she is here to let us know. >>> we want to know, who has a better chance of winning this year is it a, mitt romney, or b, the new york jets? vote now on our show page, street signs.cnbc.com. the results, mandy, later in this cablecast. >> indeed. in fact, watching the trading day starting off in rally mode but that buying spree was short circuited about spain's fiscal situation. the dow lost a 52-point gain and on track for the sixth loss in eight session. the numbers more bearish for the s & p 500, down for the ninth time in 12 sessions and losing about 1.6% over that time. the nasdaq near break even, trying to avoid a six of seven losing streak t is down about 2% in that period. brian? >>> the u.s. is addicted to budgetary crystal meth, those words from a man we are now calling "breaking bad" bill gross there he is. his new picture. he outlined america's severe spending addiction in his latest investment outlook and he has got some eye-popping stats on ho
CNBC
Oct 8, 2012 4:00pm EDT
broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] finally getting some relief at the pump. los angeles wholesale gasoline falling 60 cents on governor brown's winter blend gasoline waiver. jane wells is in northridge, california. she'll explain what all that mean. a certain mandated blend accounted for 60 cents for the price of gas in california? >> reporter: well, how about that, michele? they are saying that california's case of bad gas may be coming to an end. while wholesale prices are supposed to come down, or have, retail prices haven't. i checked several retail stations i monitored on friday, the price of gas is exactly the same as on friday. aaa says the average price in los angeles of regular is $4.70, a
CNBC
Oct 9, 2012 3:00pm EDT
. the dow on top for a two-day drop. >> how was the columbus day parade in new york city? >> it was spectacular. >> she's an institution in new york city at the fabled columbus day parade. she's the commentator on that every year. >> that's where i was yesterday. it was amazingly fun. >> always look forward to your description of the high school bands out there. i'm bill griffeth. today's selloff comes as investors gear up for what some say could be a tough earnings season. we'll know in about an hour when dow component alcoa reports its results after the bell. coming up, ceoklaus kleinfeld talks with maria about the global economy. we'll also be the first to have yum brand results coming up. another key indicator of where this economy and market may be headed. here's where we stand now. a selloff this morning with the dow down 79 points. just kind of bumping along the bottom of the day, now at 13,506. the nasdaq is down 37 points. all these charts will look similar today. 1.2% down on the nasdaq. the s&p is down nine points at 1446. >> it's not a very happy anniversary t
CNBC
Oct 8, 2012 1:00pm EDT
. >>> blackrock upgraded to buy from neutral at citi, citing valuation saying it might be large but it's gotten cheap again. firm raising its price target on blackrock $220, shares up about 27% over one year. your thoughts. >> best of read here. blackrock, they're a major player in the etf market which has obviously been a huge boon to equities as we go forward here. the stock hasn't performed much this year, up 5%. s&p up 16%. not a bad value end of the year type play. i can see this thing going to their price target. that's probably a good call. >> thanks very much for your thoughts. >>> gold prices getting ready to close. we'll head live to the nymex for the final trades coming up next. >>> plus, imagine this -- no minimum balance, no monthly, annual or overdraft fees. nothing! walmart and american express are offering consumers exactly that. this raises the question -- why do we need banks to put our money in anyway? smart comes with 8 airbags,u3 a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. h
CNBC
Oct 2, 2012 9:00am EDT
. >> sorry. >> go ahead. >> that was pointed out by the citi note that underwriters are much tighter these days. so the risk is we have all the starts and the home builders are doing well but they will reach the point where the buyers can't get the credit they need and demand is gone. >> that's why when the toll brothers made it, they were in the process. it is one of those things, why aren't more people using the money and bernanke -- go buy a house, chairman. chairman bernanke, go buy an apartment for rental. what you'll see is unless you pay in cash or cut out the banks entirely and that hurts the rate of return, unless you're paying crash you'll tie yourself up for a really long time. evil gains are feeding into things. i do need to modulate here in the risk of the parts of corporations and the banks doing a 180. this is trauma from the financial corporation, which is okay. you want them to have some memory of it. >> i'm not a libertarian, okay? i believe in the law. i am not someone who says, we have to slash the regulations. i'm just saying, you know, the impotence is to not --
CNBC
Oct 5, 2012 1:00pm EDT
. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] [ male announcer ] get more access with the citi card. syou know, i've helped a lot off people save a lot of money. but today...( sfx: loud noise of large metal object hitting the ground) things have been a little strange. (sfx: sound of piano smashing) roadrunner: meep meep. meep meep? (sfx: loud thud sound) what a strange place. geico®. fifteen minutes could save you fifteen percent or more on car insurance. >>> time for the countdown today. we're talking jobs and the election. mark moriel, the former mayor of new orleans, jobless rate the lowest since the president took office. mark, we're putting out whether this furthers his ch
CNBC
Oct 2, 2012 5:00pm EDT
concept. it is one in the low 20s. >> pop here for citi group. >> i would stay away from it. i would go with high concentration of cit versus staying with the big bracket names. >> pop for coach. >> high end stores have popped on positive news. really benefitting from that. >> drop for radio shack down 13%. >> we ought to give dan a little bit of credit. we were talking about this name. he said stay away from it. but the story here remains dismal. the ceo left the company. and credit squeeze confirmed the under perform rating. this is a broken stock and broken story. >> and a pop for coconuts. a man recently smashed a record that would make any frat boy proud. the hard headed 40 year old busted open 18 coconuts gaining a place in the book of world records. back in 2011 he cracked 85 coconuts with his elbow in one minute. how do you practice that? >> amazing. >> it's a talent. >> everyone has one. >> confused about which companies to by. stephanie has the link you might be missing. stick around for that and we will dive deeper into the retail story with some of the biggest retailers out
CNBC
Oct 2, 2012 7:00pm EDT
lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] you.piano ]nnouncer ] get more access with the citi card. we know you. we know you're not always on top of it. and how could you be? that often you just want... quiet. we know all that life demands from you. and how it's almost impossible for you to escape. almost.
CNBC
Oct 4, 2012 2:00pm EDT
for personal gain. >> today's arrest in seven cities with the operation hit all nine of a federal task force so-called strike force cities, this crackdown, some funded by the affordable care act, is having some results. more than $4 billion recovered last year alone, officials say. which sounds great until you consider that the total fraud each year could be upwards of $80 billion and maybe even twice that. >> in other words, this is really just the tip of the iceberg. the annoying thing about this health care fraud is, it pushes up health care costs for all of us. right? >> that's right. that's why they are trying to crackdown on this. as we've reported on again and again this year, this fee-for-service situation that people can find ways to gain. so they're constantly doing this pay and chase type of thing. they're getting a lot better at analyzing data. that's what this represents. >> what's sad and amazing in this political season. the amount you money you talked about is exponentially more than the amount of revenue that would come to the government if they passed this so-called buffett ru
CNBC
Oct 8, 2012 9:00am EDT
was a lot of chinese cities that had these aggressive and ambitious spending, stimulus plans to rebuild the cities might have trouble running into funding for these projects. >> i think a lot of the data that we see today is catch-up. there's just not a lot of good news out there. the brightest spot in the economy is the united states. i think it was controversial last week. we got an unemployment number suddenly that was a grand conspiracy. i didn't see it that way because perhaps i'm not a black helicopter guy. but i do think that other than the united states, there's not a lot of momentum. and china and europe can pull the world down. you see today the world being pulled down. china is not doing much to help its situation. i think the estimates for china at 7 are wrong. it should be 5.6. >> change in power coming up in china. typically there is inaction on the part of the government in terms of huge programs where it be stimulus or not. many expect you may not get something substantive still march. there's also a great deal concern about the financial system. you hear it a lot. we al
CNBC
Oct 4, 2012 11:00pm EDT
that big lake city contract that is behind them. they think that atk can outperform by 20% over the next three to six months without much in the way of down side risk because the stock is so cheap. they believe that worries about the lake city contract were keeping the stock down. that's a big part of the business. the deal can be worth $2 billion over the next ten years. if they lost the contract, it wouldn't have been a huge hit to atk's earnings. the company doesn't have any other major contracts expiring in the near future where it has to compete for business. investors have much less to worry about. confidence, now the big risk, it's off the table. we can now focus on atk's monster buy back, 175 million repurchase authorization. plus, if obama gets re-elected, they expect the civilian side to get a major boost as regular people, yes, stockpile ammo. not making it up. talk to cabela's. what happens if the election in 2008, on the other hand if, romney wins, he wants to increase spending. given all the factors, i can see why cowen believes that atk can outperform by 20%. you make a pr
CNBC
Oct 3, 2012 4:00pm EDT
] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] [ male announcer ] get more access with the citi card. why they're always there to talk. i love you, james. don't you love me? i'm a robot. i know. i know you're a robot! but there's more in you than just circuits and wires! uhhh. (cries) a machine can't give you what a person can. that's why ally has knowledgeable people there for you, night and day. ally bank. your money needs an ally. >>> welcome back. countdown mode is on. we are just over a month away from the presidential election. it's a big one. mitt romney and president obama are set to square off tonight in denver for the first of three presidential debates. you can catch it all right here li
CNBC
Oct 2, 2012 1:00pm EDT
confidence that losses are contained. shares of bank of america and citi barely bunnelled on news of their recent settlements. five banks, tyler, including jpmorgan chase are chipping away at a $25 billion settlement reached in june with feds over foreclosures. for that reason, citi mortgage's ceo told diana olick today that he doesn't think it would hit the balance sheet. what investors fear most is the legacy mortgage cases will paige in comparison to bigger legal obstacles facing banks in the coming months, namely l ll lly iran. where sanctions are concerned, several settlements, including standard are coming down the pike. jp morgue continueself is also nearing settlement over faulty safeguards in place to deem with these sanctions. issues this could hurt the stocks. for now, tyler, investors believe until they see a number, they are not buying it, not selling. >> when you refer to sanctions in that context, you are talking about the iran sanctions? >> the iran sanctions, some dealing with libya, some myanmar, a lot of banks fingered over this no real numbers and's what invest
CNBC
Oct 3, 2012 9:00am EDT
but it will be a tough decision for the board. >> yeah, 23 looks pretty good when your stock is at 13. >> circuit city, wow -- >> so many examples. >> right? >>> let's move on to apple. mass production of a new tablet computer smaller than the current ipad, sources telling dow jones will have a 7.5 inch liquid display. the current ipad, by the way, measures at 9.7 inches. it's a measurement that has not changed since the original ipad. there have been some new rumors about this thing. >> right. >> invitations will be sent out october 10th so it can hit the store shelves. fact of the matter is that competitors with the smaller tablets have been out on the market. when apple comes in, does it not matter what others exist? >> if approximawe can get off t gate, anything to not focus on google maps and the charts are holding up apple. you get the conversation away from google maps, the tstock ma actually have lift. you have to get it away from that. because right now people are saying, let me get into that samsung line. it's the greatest -- >> and then a difficult story to read, nokia apparently considerin
CNBC
Oct 9, 2012 9:00am EDT
in the city. we'll bring in carolyn roth joining us live from athens with the latest. talk about putting daniel in the lion's den. >> oh, yeah, the violence has flared up again over the last two or three hours. ms. merkle is a figure of hate for many greeks here who blame her for the many rounds of spending cuts. and you can hear it out there, the crowd is just gathering towards the center of the square. there's a lot of chanting, stone grenades being fired off, and you can smell tear gas everywhere. the protesters have hurled stones and water bottles at the police. and they have reacted by firing the tear gas. now they are trying to disperse the crowd here. i want to say for the most part up until maybe an hour ago the protests were fairly peaceful. we saw a clash and small skirmish on the outside fringes of the square, but again the violence has definitely picked up in just over the last 60 minutes. i just want to remind you that the two leaders held a press conference inside about a half hour ago. and ms. merkle once again addressed her support for the debt-stricken country and said,
CNBC
Oct 3, 2012 6:00am EDT
'll find heading into thursday. kansas city, 63 for your day, ten degrees below average, and that cool air continues to work south and east. chicago, you're not even getting out of the 50s. 53 around st. louis. that's nearly 23 degrees below our average. >> thank you very much. >>> when we come back, we have mike jackson, he says he has good news on the state of the u.s. economy. >>> but first as we head to a break, take a look at yesterday's winners and losers. ♪ >>> tomorrow on "squawk box," we're counting down the employment report. our guest host already arianna huffington. we'll talk to the twitter creator and howard schultz. you can't afford to miss "squawk box" starting tomorrow at 6:00 a.m. eastern. a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. which can withstand over three and a half tons. those surprising little still make you take notice. there are a million reasons why. but your erectile dysfunction that could be a question of blood flow. cialis for daily use helps you be ready
CNBC
Oct 9, 2012 1:00pm EDT
at shares pay dupe sharply and the reports out there that square close to a deal with new york city to get their payment system in about 1,000 cabs in the city, verifone pretty much owns this marketplace now. >> brian, thank you very much. >>> politics now. president obama heading to columbus, ohio, later today. mitt romney, as you see live in this picture, is in iowa this hour. so much attention, of course, on the presidential race, but it's the congressional elections which could have major ramifications on the power play in washington, including how we deem with the upcoming fiscal clif cliff. amon javers has more. >> let's see what the impact is likely to be or maybe not be on the fiscal cliff negotiations and start with the balance of power. not able to come to an agreement on the debt ceiling last year, they are not able to come to any agreement and the reason is partly because of that huge house republican freshman class of 87 members, 82 are running again for re-election, their fate, how they do in november, might impact debate, but only two are in tossup races, that means democrat
CNBC
Oct 9, 2012 2:00pm EDT
to disclose a partnership with new york city to implement its payment systems in city cabs. that put the stock down earlier. again, that's going up as those reports are denied. back over to you. >> pick move there. all right, jackie. i'm sure herb will get more on that later. we got to go. all right. size matters, especially when it comes to your fridge and your waistline. we'll explain next. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >>> the calorie price strike again. coke, pepsi, and dr. pepper are rolling out new vending machines that will have calorie counts on the bottoms of the machines just to make you feel guilty. the machines will first launch in chicago and san antonio city building next year. >>> and can't lose weight? blame your
CNBC
Oct 3, 2012 5:00pm EDT
for lennar. >> kudos to citi for getting this one right. >> drop for metro pcs. >> you get a takeover and you are supposed to sell. people held on and the premium was disappointing. this stuff happens. that is what you are seeing today. >> here is one, luxfer holdings. >> ipo priced at the low end of the range. sells extruding products. got into this thing and lucky to get the 10% move on. >> i sold it today on the pop because i had money in it. they came out and raised guidance and said fuel costs are that big an issue. with oil going down adding lift to the airline sector. maybe stay a little longer. >> pop for netflix up 10%. >> noted in a customer survey that satisfaction is rising. overall up 3%. satisfaction with content is about double. they really need to hit their forecast for the 7 million new subscribers to justify the multiple. >> a pop for sore losers. ever hear someone say they would leave the country if their candidate loses. jet blue asks customers to vote for who they want to win. after the election the airline will select 1,000 losers and give them free round trip tickets ou
CNBC
Oct 4, 2012 6:00am EDT
. today warm numbers. mid-70s oklahoma city, twl dall upper 80s, but the cooler air working its way towards the south. going from the 80s to the 50s in the big d. back to you. >> alex, thank you. >> we have the twitter guy on today, don't we? >> yes rk, we do. >> because i'm slow and people know that. but i was watching last knignig and checking blogs and stuff to see the immediate take. sglifs watchi sgli >> i was watching the twitter feed. >> that didn't occur to me. that's how lame i am. and i saw your husband mentioned me, that i'm probably -- >> you weren't watching twitter? >> no, and i said, oh, wait a minute, why don't i check -- >> hello! >> yes, it works. i could tell immediately. >> they were doing this thing where you could twist and they were having independent voters who would twist something. that is nothing compared to the twitter feed. >> this is a new world. it's amazing. >> the quickest feedback you can ever get p. >> clint eastwood's empty chair suddenly looked more prepared? no that's really not -- anyway, what's coming up? >> when we return, joe, we have an adv
CNBC
Oct 3, 2012 4:00am EDT
, steven engler, global head of a g-10 fx strategy at citi. thanks for joining us again. want to come to some of your u.s. dollar calls. you've been making the point that on the economic data in the u.s. dollar moves have been consistently moving hand in hand of late in the past they used to move in the opposition direction. so do you put this down to the qe-3 factor? >> in part, although it's been in place even when qe-3, or when quantitative easing hasn't been a major driver, a major force in the market. you have to realize that when you take a look at correlations over long periods of time, the dollar is kind of the currency of despair. you buy it when the economy is weak and you pretty much sell everything else. i think qe-3 is kind of making it easy for the euro and the europeans to look good right now because much of the world is terrified about the balance sheet expansion that they expect to occur and the flood of liquidity. so i think that there's a bias in the market. you know, to sell dollars broadly. in that circumstance, you look at reserve managers, you look at investors,
CNBC
Oct 3, 2012 3:00pm EDT
-shot young lawyer making $200,000 in new york city, you've got probably a high mortgage payment relative to your salary. you're paying high state and local taxes. if you made charitable deductions, this is a proposal that might hurt you more than it helps you. so who would benefit under this scenario that romney floated out there yesterday? well, the same hot-shot young legal associate, if he's living in the houston suburbs, renting a house paying low local taxes and not giving all that much to charity, that's the hot shot young lawyer who might really nefiis scenario, bill. with all of these ideas that are being floated around out there, the question is who wins and who loses? the losers are those people who are going to end up paying more because they lose some of those deduction. maria, back to you. >> all right, eamon. thanks so much. our next guest says don't stop there. eliminate all the deductions. >> david callahan likes the general idea of the romney plan but is skeptical that it can become reality, mainly because, what, you feel it's going to complicate things even further in a
CNBC
Oct 4, 2012 4:00pm EDT
today from blackrock's trading floor in new york city. we have a lot more ahead on this special action-packed edition of the "closing bell." >>> coming up, blackrock's chairman and ceo weighs in on everything from the markets to the upcoming election to why his firm was built for these economic times. it's an interview you can't afford to miss. >>> plus, numbers game. will a bad jobs report tomorrow discredit everything the fed has done to stimulate the economy? and branching out. amazon getting into commercial lending. is this another sign that their retail profit margins are feeling squeezed? that's coming up on the "closing bell." ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. we create easy to use, powerful trading tools for all. look at these streaming charts! they're totally custom
CNBC
Oct 5, 2012 12:00pm EDT
of these when it comes to 2013? can we have that graphic again? ah-ha. 1615 says citi group. 1600 says bank of america. 1575 says goldman sachs. >> i can't -- i'm not a forecaster. but what i'll trade are the technicals and the fundamentals and right now the technicals tell me that the next stop is at 1500, 1525 level that we've seen. i don't know what it was. within the last few years. that's where we're head. from there a conversation. you don't want to get ahead of yourself. trade the markets and we'll go from there. >> you look good in a weather outfit. >> if we did it together with your red glasses. >> let's give you two stocks of the week. hewlett-packard and facebook. good to see you. how are you >> i'm great. how are you doing? >> good. you're thinking, you actually like hewlett-packard at this point. everybody else is super negative and now you're starting to get interested. tell me why. >> first of all, i think as is the wall street way whenever there's a morsel of information that's reacted to either on the positive or negative side. 3.05 a share, baseline, things don't get bett
CNBC
Oct 8, 2012 12:00pm EDT
to buy from neutral at citi. >> this is really a valuation call. the analysts sees an earnings surprise coming up which is an interesting kind of bold. but the asset managers in general should do pretty well because of higher equity markets. these guys have the global platform and biggest in the industry. i like this call especially if larry fink stays on. >> facebook cut to sell over at btig. the stock is down 6% or more over the past week. simon, this one had some pretty good momentum. i'm wondering if that's all gone now? >> btig are saying nothing no one has been talking about before. that concerns basically on mobile monetarization. >> all right. all day cnbc is look at the stocks that have powered the s&p 500 to multiyear highs. is there still time to get in or have you missed the boat. mary thompson is here with a look at the credit card companies. how are you? >> good. a lot of analysts saying in this space jump on board, the water is fine. these companies helped in part by rising market. credit infused and u.s. economy shows signs of life. after two big acquisitions this year a
CNBC
Oct 8, 2012 3:00pm EDT
in the country, really has put his life on the line as well as new york city police chief jim esposito. thanks for joining us. >> it's a great day. thanks to be here and talk to you. >> how important was it -- how does it feel to be grand marshal of columbus weekend? what does it mean for you, a man who started his own business from the ground up? >> you think about 520 years ago, columbus had a vision, he was an entrepreneur tried to do a venture capital deal with the queen of spain. more fundamental it lays the track of what u.s. is all about. the rule of law, the free market system, even with all the blemishes of the last few years, and then the ability to succeed and the vision of columbus and what we're doing here with this parade is to raise millions of dollars, which we do every year, and give it back to individuals that want to have an equal opportunity through school. we give that money to students, thousands of them, maria, and that's why i'm doing this. i want to continue to help contribute. >> you constantly give back. the money raised, $2 million for scholarships for students, for
CNBC
Oct 8, 2012 5:00pm EDT
" tonight. at the nasdaq market sites at new york city's times square, i'm melissa lee. happy columbus day. >> was that a -- >> christopher columbus -- >> surprised. we have done that every year, the last five years. >> doesn't matter? >> doesn't matter. >>> tomorrow marks a milestone for the market, five years since the s & p 500 hit its record high. down about 6 1/2% since then so the question here is can stocks ever get there and what will it take? could it be earnings season? what do you think, pete? >> probably have to be earnings season a different catalyst every single week, we get into this week, obviously everybody last week focusing on the debates, some of the economic numbers. now alcoa out tomorrow but i think later in the week, we start to hear from some of these banks. look at the volatility index, yes pushing up on that 50-day moving average, pulling back off it again today and remain closer and closer towards that 15 level. you look at the financials right now, today, again, they trade pretty nice, actually, market off the financials are basically flat once again so i'm loo
CNBC
Oct 9, 2012 6:00am EDT
air mass. so for today, we have some of the sto showers coming to an end. new york city, only reaching 58. farther south, 60s around atlanta, tampa, you'll see some dry skies. florida has been dealing with wet weather over the last several weeks. a little drier for today. some of those lighter showers moving across the upper midwest into the western great lakes, but central southern plain there is to texas, looking pretty good. the big d 82 and partly sunny skies. and then the western half of the nation is all is fair. seattle right around 68 for the day. we have cooler conditions moving in across the northern tier. that's all coming in behind this front which by wednesday will be closer toward the eastern lakes. so now we have a little bit of rain to deal with, rochester, buffalo, syracuse on wednesday. that front heads east as we move into thursday, but makes way for yet another frontal system and that will reinforce the cooler air and also bring us a few more showers to the great lakes. back to you. >>> subpoe&p 500 earnings proje to decline in the third quarter, first time since 20
CNBC
Oct 3, 2012 2:00pm EDT
it fits around eight people which is highly efficient for a lot of companies doing many cities in one day. this aircraft was started with a clean sheet of paper. instead of flight logs, can you now put all your flight information on the ipad. instead of a lot of those busy knobs, they put it all on a giant flat screen. bombardier and flex jet are hoping that this plane can help them out of one of the worst crises in this industry's history. this plane so far, they've sold more than 40 shares. that's around 1/16 fractional ownership of this plane. the company is also hoping that a new range of products including this card, which i'm going to show you in a second. this is the flex jet atm card. you can basically -- it is $100,000. you load it up with hours. it is very flexible. it is their lowest cost offering. a lot of companies now instead of -- it's not about who has the biggest plane, the most expensive gulfstream. it is about who can fly the smartest and fly with the most value and efficiency. so a huge change in this industry. now the question is when will the private jet business fin
CNBC
Oct 2, 2012 6:00am EDT
current cities are suddenly represented in oil and gold, suddenly gold and oil are so high that any gains that you get in your market averages are -- >> and yet crude oil back at -- >> 92, yeah. expressed in either euros or dollar, it's expensive. the ten year note which we know is just able to trade wherever it wants and not being influenced at all by the fed, just at a 1.63%. look at the dollar which has been around 1.28 versus the euro. 1.29 today. and then gold was at a session high, i think it was at a euro all-time high yesterday. down a little bit today. >> right now time for the global markets report. ross westgate is standing by. while you -- >> two days now? >> guess who we get onset with us. >> mr. poulter. that's fantastic. and is that the first interview he's done outside of the event? >> he may have just talked after the event, i guess, and i know he had a few guinnesss after the event. i saw a few pictures yesterday. but he had those same eyes. eyes scare me a little bit. i'm not going to be that nice. because he put a dagger in my heart. i'm going to talk about how well he
CNBC
Oct 4, 2012 5:00pm EDT
. >> live from the market in new york city's times square. stocks getting a boost today and is this a romney rally? what is the best way to play it. >> i think you have to look at the sector that is most undervalued. i think a romney victory brings back the return of normalized earnings much faster. you will see a regulatory environment that is more in line with what i think the 2012 market should be. we have over regulated in that sense and the value of the us dollar under romney will get stronger. >> karen? >> i agree with what he is saying. there is the perception of economic growth and if that is the case and less regulation, i think you are see the industrials get better. >> i think if we can get back to 2007 and 8: 20 2007 and 2008 levels, it will be better. >> how often do you get a candidate that calls out a sector like that? >> it is not just the president and regulations that have hurt coal stocks? >> that has hurt it as much as the president holding things back. but obviously romney calling this out is why stocks were up 6 to 7%. the question i have is up to what day do you decide
CNBC
Oct 5, 2012 6:00am EDT
some remember max company city? >> i'm glad you're entertaining yourself. >> all preparation that matters, right? >> it is. jarrett, what do you think, are people underestimating the vice president's abilities with paul ryan? >> if they aren't, they shouldn't. he's quick on his feet. he's good at linking things to a narrative. i can't imagine he would want to go into the weeds with paul ryan and talk about budget baselines. he'll talk about the kind of narrative, the middle class, the folks that he believes -- >> the ones buried in the last four years? >> i think joe biden really does connect with average voters in a way most politicians don't. and i think it will be tough. >> tony, you and the steelers, man. anything happens to them, and i got to hear from you. >> i have not had a chance on air to congratulate you with the reds. amazing season. >> thank you. they're 5:1 odds. i think the nationalses are slightly above that. but i checked the game is saturday 8:38. i'm so excited because last time i got to the playoffs, remember what happened? they got no hit. i'm like watchi
CNBC
Oct 5, 2012 9:00am EDT
? >> thank you, david. i'm a little hungry this morning. it's dunkin brands. citi says they see them tracking above consensus. consensus is 2%. citi thinks they're looking up 3%. as a result, shares are higher, carl. back to you. >> thanks so much. let's take a quick check of the markets. the dow sitting near its highest levels in almost five years since december 2007 on the back of that strong jobs number, perhaps. s&p not quite at an intraday high for the year and 1469 and got to get to 1474.51 to set a new interview intra day high for 2012. when we come back, more pain at the pump and up next we'll find out yet perfect storm will be brewing in california. a state that refines its own gasoline and why stations are closing their doors. that's next. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this
CNBC
Oct 6, 2012 6:00am EDT
city of los angeles. the dow closing now for the third straight day and reports five-year highs, but the make-or-break moment is here. earning season is upon us, so the question is do you stay long into next week? let's get into money right now and find out. before we do that, though, we've got to talk about apple. it looks like there are signs of a breakdown here with apple breaking below the 50-day moving average, dan, moving lower by 2% on a day where the markets are basically flat. and on top of it, we have the foxconn strike. >> yes. so that headline came out that one of the factories in china where they make the iphone 5, the stock took a leg down. i mean maybe half a percent, three quarters of a percent. it was weak all day. >> right. >> but here's the thing. i think it feels like the momentum has kind of come out of the thing right here. we had this buildup into the iphone 5 release, and then obviously the units were a little disappointing. so here you have the thing on a technical basis, 650 is this huge, huge level here. it was prior resistance. and so, you know, remem
CNBC
Oct 8, 2012 6:00am EDT
about the fresh money coming in for the romney campaign. all that plus states and cities turning to gambling to make up budget shortfalls. we'll bring you a new casino opening up in the battleground state of ohio. first let's get you up to speed on the other top stories. andrew, welcome back. >> good morning. it was decision 2012 in venezuela this weekend. hugo chavez has been reelected. he beat out by a 54-45 margin. in 2006, he won by 27 points. swreker to gives chavez a fresh endorsement of his socialist asian world bank saying brace for slower growth. lowest pace of growth since 2001. and that's predominantly due to the region's exposure to china. and finally, a u.s. congressional committee set to recommend blocking china's big telecom equipment maker from expanding in american markets. leaked report says that there are security risks. >> codo we trust the chinese? >> if you were looking there, i would find another vendor if you care about your indiatakellectu property and the national security of the united states of america. >> that report was something. the full report set
CNBC
Oct 2, 2012 6:00pm EDT
. >> booyah this is john from the windy city. >> congratulations on last night's victory. >> ticker symbol nok? >> it is not okay to own that one n-o-k. we are going to skip nokia. how about mark in maryland? >> jim, a big thank you booyah from my wife. my question is regard iing gourdman's is this an excellent buying opportunity? >> again, i know this sounds like i'm punting a lot. i don't know how the last three months, but i have to do my homework on this one. i'm not ready and up to speed. tom in california. >> two israeli communication stocks. partner and sell. ptnr and cel. >> i have been saying cel, please do not touch it. it is way too risky for me. billy in pennsylvania. >> yes, jim, booyah from the country who hosts your eagles on sunday. i bear no malice and how can i make money with you? >> okay. my question, pay big dividends 10%. wind screen. >> we had them on. i was not convinced that this company was going to do very well. i'm going to say no. i'm going to rm eeen in califor. >> first time caller. rly? >> american capitol agency is the one i want to own. >> and that is the conc
CNBC
Oct 8, 2012 4:00am EDT
in ath thens this week, her fist advirst vis greece since the eurozone cry city started. >>> very good morning to you state side especially as we start the new trading week here. columbus day holiday. government closed in the states. the dow trading some 39 points below fair value. not a bad week, up 1.25%. a little more for the dow last week. nasdaq last week was up 0.6%. currently it's indicate $11 1/2 points below fair value. and s&p 500 is some 4.8 below value. so indicated for a negative start this morning. pretty good gains for european stocks. better than u.s. stocks last week. but the ftse global 300 this morning down. two-thirds. xetra dax today down 1.2%. ibex down a percent. spanish yields still contained. 5.68% is where we stand right now in spanish yields. so continue to fall further below the 6% mark. italian yields just over the 5% mark, as well. and currency markets, euro-dollar a little bet of weakness, back below 1.30, levels we were trading before the employment report last friday. aussie dollar down to below 1.02. what about in asia? >> asian markets kicked off in t
CNBC
Oct 9, 2012 4:00am EDT
officers are on duty and they've blocked off the city to the protesters because at any cost they do want to avoid violence flaring up. on it so it's now a red zone. so police is on heavy guard because they'll have water cannons available, snipers are positioned around where the german delegation is staying. why is she coming now, why didn't she visit the two previous governments? because she knows hostility towards her is extremely high. remember for the better part of the last three or four year, she was seen as a scapegoat for the tough austerity measures that have been implemented here and that has led to the deep, deep recession in this country. well, she wants to send a message of support and solidarity about the reform efforts that have already been taken. but privately she'll be pressuring to say you have to continue with the reform efforts and we're not coming with any gifts. we'll make no further concessions. that will be her tough message as she comes here today. back over to you. >> what's interesting is that maybe the timing of this visit there seems to be imf saying we need
CNBC
Oct 9, 2012 5:00pm EDT
from the nasdaq market site at new york city's times square. an unhappy anniversary for the bulls today. concerns about earnings and global growth here overblown. should we be happy because the first two earnings seem to be good? >> the one thing not priced is better earnings and a better economic environment. everybody that you talk about is doom and gloom. the economic numbers have not been that great. so certainly some of it is justified. today was a very interesting day because the whole rally from the 2009 lows up until now has been driven by this push and pull between policy and economics and/or fundamentals rchlt today we had a policy response in kmien china and economic fundamentals and today the imf chose economic fundamentals which to me is a warning sign. it is not a place you want to go in all short. it is a warning sign. >> you were actually right. you were bullish from the 1400 level up to 1474. you are saying lock in profits? >> i would say absolutely lock in profits. i think you need to watch for the risk that the market has changed its stripes a little bit. i'm not all
CNBC
Oct 3, 2012 6:00pm EDT
in the city and we opened another door the brand still got stronger. there's a tipping point. we have to try to avoid that tipping point. most of our business is as a wholesaler. but we present our brands to consumers in a way no retail partner can. if you go into a north face store or van store, you see all the brands together. we think it makes the brand stronger. it's good for us and them. >> one of the things that people get -- don't understand is that the ag complex doesn't all trade up at the same time. some of the food grains did. but cotton has really gotten cheap. you had very high cotton last year. >> yes, we did. >> is this going through gross margins that cotton's come down so much? >> we had real gross margin challenges last year, particularly in our north american denim business. we lost 400 basis points in gross margins last year. >> gigantic. >> it is gigantic. but we didn't cover all of our cotton costs while we were doing that. this year, it's coming back to us. i showed up last quarter a little bit. it's going to show up for the back half of the year with improved growth m
CNBC
Oct 2, 2012 12:00pm EDT
einhorn making news today in new york city. kate kelly is following that. >> he went through four big ideas, some of which was the short bed on green mountain coffee roasters. he said they're playing out like he expected there and some developments happen faster than he expected. he essentially thinks there's a high likelihood of improper accounting here, but at a minimum waistfsteful spending. his most surprising call, and i talked to him for a little bit after the presentation and he agreed this may have been the most counterintuitive was his long bet on cigna. he said hmos are undervalued right now. people are afraid of them because of obama care, among other things, so they don't want to talk about them. the whole group is trading at a discount. if you actually go through it, cigna is just -- i'm laughing because he just walked by me on the street actually. anyway, cigna is actually better positioned than other stocks. the he cexposure to obama care small so it's well-positioned. i asked him about lulu lemon. he said, listen, focus on what i said at the beginning of the remarks, w
CNBC
Oct 3, 2012 12:00pm EDT
could do for you here, i think you'll see 75 before you see 50. i agree with the comments in the citi report. you are seeing a turn in customer satisfaction. >> big day for ipos, as well. lifelock making their debut. which of these three do you like? >> the one that caught my eye is javolin mortgage. the thing you have to worry about is as they roll those new mortgages organization t s on, lower. >> we're coming off a year with the worst drought since 18956. think farmers and the have i wi industry looking for the biotech angle.56. think farmers and the have i industry looking for the biotech angle.56. think farmers and the have i industry looking for the biotech angle.956. think farmers and the have i industry looking for the biotech angle. >> david rosenberg is one of wall street's longest running bears, but is something about to turn him into a bull? david joins us on the fast line. welcome to halftime. >> nice to be back on. >> are you about to change your stripes? >> well, i'm not so sure that i've changed my stripes. i was never you're quite right a market bull in terms of the m
CNBC
Oct 3, 2012 7:00pm EDT
11th city and we're on a tour and i'm going to be doing a debate listening party at arizona state university tonight. this will be the 11th university i've been to, i've had 11 lunches with business owners. let me tell you what the people understand that i believe governor romney is going to drive home. spending is destroying this nation and i think if he stays on that message, he's going to do just fine. >> but, herman, doesn't he shav to say something about it? i have jim boykin here, smart guy, he's already challenging holtz-eakin on that. how much? where? defense? nondefense? safety net? where's it going to come from? >> i can't tell you where it's going to come from but i do believe it's going to be specific. i do know that the american people, regardless of the specifics on spending, i agree with the earlier comment that he's got to be specific on how he's going to create jobs. but relative to spending, the people sitting at their kitchen table, talking kitchen table economics know we cannot continue the spending, the run away spending like we've done in the last four years,
CNBC
Oct 4, 2012 9:00am EDT
it means the government travellers will have to stay farther out of the city center because they won't find rooms available at the rates they're authorized to play, but that will vary market by market. i think ultimately the business and the vacationers will drive the rates in the next year. we talk about 5% to 7% next year, which is a pretty bullish number. >> as far as the headlines are concerned, you beat by four cents. is it fair to say that actually that's not due to demand and pricing. it's more to do with the fact that you've cut costs by $23 million more than you expected is and you brought more than expected which flants your eps figure. >> yes. i think the earnings report we reported today compared to what people were expecting was mortgagely driven by unusual or one-time items, admin costs, those sorts of things. our same-store sales numbers were less than expected an our fees were more or less than what was expected. so that's a fair comment. we posted really good growth, so we feel good about that. >> in the meantime you're also maintained your midpoint. you are tightening the
CNBC
Oct 4, 2012 12:00pm EDT
on, citi the other day said, you know, the analyst was positive on the stock because customer satisfaction improved. customer sats faction of existing customers doesn't tell me that they have a great strategy and way to grow their new subscribers. >> and you know, judge, it only could have improved given where it was. it had to be at a trough to say the least. so it only could improve. that's the reason why i think the stock has got on tten to th point. i understand what tillson is saying and mahaney. >> do you expect this move or is it about to evaporate? >> no. i'm a hater. all the people being very bullish this week, they're buried in this thing, number one. number two, no one should be shocked that it makes big moves. this is a 30 'em short position, so any time you've got a $120 target on a $60 stock with that many shares short you have to expect a huge rally. >> 20% in four days. >> we saw this movie though. in january it doubled. it went from 70 to 130. we saw just a few months ago we had the same thing play out. the stock went from 60 to 90. this is what happens in the
CNBC
Oct 4, 2012 3:00pm EDT
floor in new york city. we've laid out the numbers. the firm manages more money than the federal reserve, more than $3.5 trillion. the question is, how are they putting their money to work in today's environment? and how are clients allocating capital today? joining me now in a cnbc exclusive are two people at the forefront of those decisions. quinton price and robert kapito, the president of black rock. gentlemen, good to have you on the program. thank you so much for joining us. let me start with quinton, since i don't think you've been with us before. nice to have you on the program. you are the global head of the alpha strategies group. really, a global opportunity for allocating capital. to what do you attribute the rally today? was it the ecb, do you think? was it the election last night? what's going on? the debate, rather. >> europe has been driving the market for months. ever since draghi made his comments, going back two months, we've seen confidence flowing back into equities. we've removed the downside risk for markets. i think that's continued. i think people have got confid
CNBC
Oct 4, 2012 7:00pm EDT
. so much for the city of brotherly love. a philadelphia high school teacher allegedly verbally abused a 16-year-old student just for wearing a mitt romney t-shirt! the girl and her dad are up next. want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-345-2550 lower than spdr tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and even lower than vanguard. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that means with schwab, tdd#: 1-800-345-2550 your portfolio has
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